BMO Capital Markets Issues Positive Forecast for DraftKings (NASDAQ:DKNG) Stock Price

DraftKings (NASDAQ:DKNG) had its price target hoisted by BMO Capital Markets from $42.00 to $50.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

DKNG has been the subject of a number of other research reports. Sanford C. Bernstein set a $28.00 price objective on shares of DraftKings in a research report on Monday, February 16th. Macquarie Infrastructure cut their target price on shares of DraftKings from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. Benchmark reduced their price target on DraftKings from $37.00 to $29.00 and set a “buy” rating for the company in a report on Friday, February 13th. Morgan Stanley dropped their price objective on DraftKings from $53.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 price objective on shares of DraftKings in a research report on Tuesday. Twenty-five analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.12.

DraftKings Price Performance

NASDAQ:DKNG opened at $24.45 on Tuesday. The stock has a market capitalization of $12.05 billion, a PE ratio of -611.25, a P/E/G ratio of 0.98 and a beta of 1.67. DraftKings has a 1-year low of $21.01 and a 1-year high of $48.78. The firm has a fifty day simple moving average of $29.37 and a 200 day simple moving average of $34.34. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.91.

Insiders Place Their Bets

In other news, Director Harry Sloan purchased 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average cost of $21.85 per share, with a total value of $2,185,000.00. Following the acquisition, the director owned 350,219 shares in the company, valued at approximately $7,652,285.15. This trade represents a 39.96% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R Stanton Dodge sold 52,777 shares of the business’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $32.01, for a total value of $1,689,391.77. Following the completion of the sale, the insider owned 500,000 shares of the company’s stock, valued at $16,005,000. This trade represents a 9.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 62,928 shares of company stock worth $1,923,728 over the last three months. Insiders own 47.08% of the company’s stock.

Institutional Investors Weigh In On DraftKings

A number of hedge funds and other institutional investors have recently modified their holdings of DKNG. Dagco Inc. acquired a new stake in shares of DraftKings in the fourth quarter valued at approximately $26,000. Ameriflex Group Inc. increased its stake in DraftKings by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 810 shares of the company’s stock worth $30,000 after acquiring an additional 405 shares during the period. Root Financial Partners LLC bought a new position in DraftKings during the 3rd quarter worth $33,000. Asset Dedication LLC acquired a new position in DraftKings in the 3rd quarter valued at $37,000. Finally, Montag A & Associates Inc. lifted its position in shares of DraftKings by 82.5% during the 4th quarter. Montag A & Associates Inc. now owns 1,106 shares of the company’s stock valued at $38,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds own 37.70% of the company’s stock.

DraftKings News Summary

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: BMO Capital Markets raised its price target to $50 and assigned an “outperform” rating, signaling outsized upside vs. the current price and lending credibility to the growth story. BMO Raise
• Positive Sentiment: Citizens Jmp reaffirmed a “market outperform” rating with a $38 price target, another analyst endorsement supporting the rally. Citizens Jmp Rating
• Positive Sentiment: DraftKings unveiled a unified “DraftKings Sports & Casino” Super App that integrates sportsbook, predictions, casino and lottery into one wallet and account and signals a material push into prediction markets and expanded AI — a strategic pivot investors view as expanding monetization and engagement opportunities. Super App Unveil
• Neutral Sentiment: Market commentary notes DraftKings is outperforming a weak market today as analysts roll in upgrades and note the company’s new strategy; useful context but more evidence needed to confirm sustained earnings impact. Market Commentary
• Neutral Sentiment: DraftKings published Analyst/Investor Day materials (prepared remarks and slideshow) that flesh out the roadmap for product integration and growth; these decks provide detail but investors will watch execution and metrics. Investor Day Transcript Slides
• Neutral Sentiment: Short-interest data in the filings appears anomalous (reports show 0 shares / NaN increases and 0 days-to-cover), so there’s no clear signal from shorting activity at this time; treat these figures with caution.
• Negative Sentiment: Company CAO Erik Bradbury sold 2,883 shares (~$70.8K) and reduced his stake by ~7% — an insider sale that can be read negatively by some investors, though it may be routine or for personal liquidity. SEC Filing

About DraftKings

DraftKings Inc is a leading digital sports entertainment and gaming company specializing in daily fantasy sports, sports betting and iGaming products. The company provides an integrated platform where users can participate in daily fantasy contests, place wagers on professional sports events, and enjoy a range of online casino-style games. DraftKings’ proprietary technology supports real-time odds, live scoring and advanced analytics to enhance the user experience across mobile and desktop applications.

Founded in 2012 by co-founders Jason Robins, Matthew Kalish and Paul Liberman, DraftKings began as a daily fantasy sports provider and rapidly expanded into regulated sports betting following legislative changes in the United States.